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- What is Bitcoin?
- The most popular digital currency or cryptocurrency founded by someone named Satoshi Nakamoto in 2008.
- History
- Nakamoto designed Bitcoin as a peer-to-peer electronic cash system in a decentralized environment.
- The potential of this system was realized later when traditional banking systems became rigged to benefit investors rather than users.
- Mining
- Bitcoin is created through a process of mining, which requires specialized mining hardware and software.
- Mining is a process of solving complex computations and registering transactions to create new blocks on the blockchain.
- Blockchain
- A public digital ledger where every cryptocurrency transaction is recorded.
- Present
- The new era of digital currencies a decade ago was considered futile, but the risk-takers are rewarded today.
- Bitcoin is priced at $42.223 and reached the highest of around $70,000 earlier this year.
- Use Cases
- Bitcoin is used for various purposes around the world.
- Notable Events
- El Salvador became the first country to accept Bitcoin as a legal tender.
- Competitors *